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Even at a time when for-hire truck capacity is readily available at com­petitive rates, many shippers have continued to invest in their own private fleets.

The Charlotte, N.C.-based asset-light transportation provider posted a net loss of $7 million, or 6 cents a diluted share.

GXO Logistics saw revenue grow 19% in the second quarter of 2024 to $2.85 billion. However, the contract logistics firm reported a drop in net income to $39 million from $66 million in 2023.

Hub Group profit in the second quarter of 2024 fell due to the ongoing weakness in the North American freight market, but a final-mile acquisition in December 2023 offered a bright spot.

Schneider National profit in the second quarter of 2024 slumped 54% as price increases failed to arrive as early as the carrier expected and ongoing freight market weakness saw intermodal and logistics revenue decline.

Profit dropped at Werner Enterprises Inc. in the second quarter of 2024 as revenue slid more than analysts expected on the back of continued freight weakness, although executives are seeing more room for optimism from the last few weeks.

Profits and revenues at Ryder System Inc. increased in the second quarter of 2024 on the back of higher returns from its leasing and maintenance program, the integration of the Cardinal Logistics acquisition and the absence of an accounting charge taken in the year-ago period.

Knight-Swift Transportation Holdings reported July 24 that revenue reached just shy of $2 billion in the second quarter of 2024. The Phoenix-based carrier posted net income attributable to itself of $20.3 million.

Across the major logistics market segments, 2023 brought a spate of challenges including compressed margins, rising labor costs and inflationary pressures, ensuring a down year for many.